Caesars Entertainment, Inc. (NASDAQ:CZR) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC trimmed its position in Caesars Entertainment, Inc. (NASDAQ:CZR) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,416 shares of the company’s stock after selling 2,207 shares during the period. Meridian Wealth Management LLC’s holdings in Caesars Entertainment were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CZR. Janus Henderson Group PLC lifted its position in Caesars Entertainment by 18.7% in the third quarter. Janus Henderson Group PLC now owns 12,609,243 shares of the company’s stock worth $526,309,000 after purchasing an additional 1,983,151 shares during the period. Assenagon Asset Management S.A. lifted its position in Caesars Entertainment by 383.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,140,517 shares of the company’s stock worth $71,536,000 after purchasing an additional 1,697,443 shares during the period. Bamco Inc. NY acquired a new stake in Caesars Entertainment in the third quarter worth approximately $61,890,000. ING Groep NV acquired a new stake in Caesars Entertainment in the fourth quarter worth approximately $35,797,000. Finally, Progeny 3 Inc. acquired a new stake in Caesars Entertainment in the third quarter worth approximately $37,649,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.

Caesars Entertainment Trading Down 1.2 %

Shares of NASDAQ:CZR opened at $30.37 on Thursday. The stock has a market capitalization of $6.44 billion, a PE ratio of -18.19 and a beta of 2.90. Caesars Entertainment, Inc. has a 1 year low of $29.27 and a 1 year high of $45.93. The firm has a fifty day moving average price of $34.61 and a 200 day moving average price of $37.75. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.20. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%. Analysts expect that Caesars Entertainment, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CZR. Macquarie dropped their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Truist Financial dropped their price target on Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group dropped their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.64.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.